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Yes, you do have the opportunity to indicate that when you enter your 1099-R.
@m20tax wrote:
what do I enter besides 1099-R? how do I convey to IRS that the funds were rolled into schwab instead of consumed by me?
A 5498 does not go on a tax return. Just enter the 1099-R and say you "moved" the money and was all rolled over. That will put it on the 1040 line 4a with the word ROLLOVER next to it.
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